Minneapolis College Of Art & Design is located in Minneapolis, MN. The organization was established in 1988. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2022, Minneapolis College Of Art & Design employed 745 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minneapolis College Of Art & Design is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Minneapolis College Of Art & Design generated $41.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $41.5m during the year ending 05/2022. While expenses have increased by 4.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC AFFAIRS:- ACHIEVED ACCREDITATION APPROVAL FROM THE HIGHER LEARNING COMMISSION FOR THE NEW MASTERS OF CREATIVE LEADERSHIP.- TARGET CORPORATION SPONSORED AN MCAD COURSE ENTITLED, COLOR FOR ALL, WHICH AIMED TO CREATE FASHION COLOR PALETTES FOR DIVERSE GUESTS.- DR. PATIENCE LUETH JOINED MCAD TO TAKE THE NEWLY-FORMED POSITION OF DIRECTOR OF FOUNDATION STUDIES, AND TOGETHER WITH FACULTY WILL REDESIGN THE FIRST YEAR EXPERIENCE.- THE HYFLEX INITIATIVE WAS IN FULL SWING THIS ACADEMIC YEAR AND RESULTED IN POSITIVE FEEDBACK FROM STUDENTS AND FACULTY. THE MEDIA CENTER TEAM WORKED WITH THE ONLINE TEACHING AND LEARNING TEAM TO CREATE DOCUMENTATION ON HOW TO UTILIZE HYFLEX CLASSROOM SPACES, AND ESTABLISHED POLICIES AND BEST PRACTICES.- THE ART HISTORY FACULTY REVISED OUR FIRST YEAR ART HISTORY CURRICULUM TO REFLECT A MORE GLOBAL PERSPECTIVE THAT EMBRACES THE CONCEPTS OF MULTIPLE MODERNISMS AND ANTI-COLONIALISM.- THE BAJUS FOUNDATION FOR INNOVATION IN ANIMATION FUND WAS CREATED TO SUPPORT VISITING FACULTY AND CO-CURRICULAR OFFERINGS IN MCAD'S GROWING ANIMATION PROGRAM.- MCAD'S MFA PROGRAM HOSTED A SERIES OF WELL-RECEIVED PROFESSIONAL PRACTICE SESSIONS THAT WERE FREE TO THE PUBLIC AND ONLINE.
STUDENT AFFAIRS:- A FT LEARNING SPECIALIST WAS HIRED IN THE LEARNING CENTER. THIS POSITION WAS CREATED FROM A PREVIOUS PT POSITION. - A REVAMPED, MORE INTENSIVE TRAINING PROGRAM FOR THE PEER MENTORS WAS IMPLEMENTED FOR FALL 2021. PEER MENTORS WERE ALSO THE ORIENTATION CREW, A CHANGE TO BETTER ENGAGE MENTORS WITH NEW STUDENTS. - PEER MENTORS STARTED TO HOST GROUP STUDY HALLS TO BRING STUDENTS TOGETHER TO DO HOMEWORK. - NEW STUDENT ORIENTATION CONSISTED OF VIRTUAL AND IN-PERSON SESSIONS. THIS IS A SHIFT FROM THE IN-PERSON ONLY SESSIONS HELD PRIOR TO COVID.- AN EMERGENCY PARACHUTE FUND WAS CREATED TO ASSIST STUDENTS DURING THE PANDEMIC WHO HAVE UNFORESEEN FINANCIAL EMERGENCIES. THIS FUND IS SPONSORED BY MCAD DONORS. THE FUND CONTINUES TO BE AVAILABLE FOR STUDENTS. - LAUNDRY WAS MADE FREE FOR ALL RESIDENTS ON CAMPUS. - A 3/4 TIME MENTAL HEALTH COUNSELING POSITION WAS ADDED TO INCREASE OPPORTUNITIES FOR STUDENTS TO MEET WITH A COUNSELOR ON CAMPUS.- NEW SUPPORT GROUPS WERE CREATED TO INCREASE THE NUMBER OF STUDENTS HAVING CONTACT WITH A MEMBER OF THE COUNSELING STAFF. - A FT ACADEMIC ADVISING COORDINATOR WAS HIRED. THIS POSITION HAD BEEN OPEN FOR A NUMBER OF YEARS. - DURING COVID ACADEMIC ADVISING OCCURRED VIRTUALLY. THIS YEAR, APPOINTMENTS WERE OFFERED BOTH IN PERSON AND VIRTUALLY. - SOME NEW EVENTS THAT WERE HOSTED: STICKER SWAP, TRANS DAY OF VISIBILITY, COOKING EVENTS IN THE CAFETERIA, AND STUDIO SNACK BREAKS.- DISABILITY SERVICES CONTINUES TO SEE AN INCREASE IN THE NUMBER OF STUDENTS REQUESTING ACCOMMODATIONS.
ACADEMIC SERVICES:- CAREER DEVELOPMENT EXPANDED THE SUMMER ALUMNI SERIES INCORPORATING INDUSTRY PROFESSIONALS THAT REPRESENT ALL SECTORS OF THE CREATIVE INDUSTRIES.- MCAD HELD AN EXHIBITION AT HOMEWOOD STUDIOS ENTITLED MATERIAL AND MEDIA EXPLORATION, WHICH FEATURED THE WORK OF OUR FIRST YEAR STUDENTS.- THE LIBRARY RECEIVED SIGNIFICANT DONATIONS: 20 LARGE FORMAT COMIC BOOK FACSIMILES ("ARTIST EDITIONS") FROM MCAD ALUM ANDREW CARL AND FROM TARGET, ARCHROMA'S COLOR ATLAS, A STANDARD RESOURCE THAT IS ACTIVELY USED IN THE TEXTILE INDUSTRIES AND CONTAINS OVER 5,000 DYE SWATCHES.- FACULTY MEMBER AKI SHIBATA BROUGHT NEW ENERGY AND A DEEPENING COMMITMENT TO MCAD'S CONNECTION TO THE LITTLE EARTH COMMUNITY, CULMINATING WITH AN EXHIBITION OF THE NATIVE YOUTH ARTS COLLABORATIVE AT MCAD.- THE GALLERY ACTIVELY WORKED WITH 26 MCKNIGHT AND JEROME FELLOWS IN THE 2021-22 YEAR.- THE MCAD GALLERY, CO-SPONSORED WITH CONTINUING EDUCATION, HELD AN IN-PERSON EXHIBITION CLOSING RECEPTION AND ARTIST TALK WITH WAEL MORCOS ON FRIDAY, NOV. 5 AND AN ARABIC LETTERING WORKSHOP ON SATURDAY, NOV. 6.
- WE COMPLETED VARIOUS PROJECTS INCLUDING A REVISIONING OF TWO STUDENT STUDIOS, CONSTRUCTION OF A NEW WELCOME DESK, RENOVATIONS AND EXPANSIONS OF ALL GENDER RESTROOMS, UPGRADED AN EXTERIOR BUILDING ENVELOPE AND VARIOUS OTHER CAMPUS IMPROVEMENTS. - WE COMPLETED THE ACQUISITION OF TWO ADJACENT PROPERTIES THAT ALLOWS CONTINUED SUPPORT OF THE CAMPUS MASTER PLAN.- WE DEVELOPED AN EXTENSIVE UPDATE TO THE CAMPUS MASTER PLAN.- WE PERFORMED AN ANALYSIS OF THE ON CAMPUS APARTMENT BUILDINGS LEADING TO APPROVAL TO PURCHASE NEW FURNITURE FOR ALL UNITS. THIS WORK IS PLANNED FOR THE SUMMER OF 2022.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sanjit Sethi Ex-Officio President | OfficerTrustee | 40 | $385,278 |
Robert Ransick Vp, Academic Affairs | 40 | $172,915 | |
Melissa Huybrecht Vp, Enrollment Management | 40 | $142,830 | |
Cynthia Theis Vp, Instl. Advancement | 35 | $142,443 | |
Annie Cleveland Vp, Communications Marketing Strategy | 40 | $137,375 | |
Mary Yang Thao Interim VP Of Finance/cfo | Officer | 40 | $135,571 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cunningham Group Architecture Architect - Student Housing Design | 5/30/22 | $363,231 |
Mass Design Group Ltd Consultants - Campus Master Plan | 5/30/22 | $351,942 |
Minneapolis Institute Of Arts Physical Plant Services | 5/30/22 | $326,381 |
Homeland Health Specialists Inc Healthcare | 5/30/22 | $142,200 |
Larkin Hoffman Daly & Lindgren Ltd Law Firm | 5/30/22 | $107,929 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $247,715 |
Related organizations | $0 |
Government grants | $3,411,742 |
All other contributions, gifts, grants, and similar amounts not included above | $2,091,430 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,750,887 |
Total Program Service Revenue | $32,713,664 |
Investment income | $2,622,588 |
Tax Exempt Bond Proceeds | $9,238 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $13,979 |
Net Income from Fundraising Events | $212,035 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $41,322,391 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $15,722,794 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $683,027 |
Compensation of current officers, directors, key employees. | $683,027 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $12,455,171 |
Pension plan accruals and contributions | $459,357 |
Other employee benefits | $1,143,321 |
Payroll taxes | $952,820 |
Fees for services: Management | $0 |
Fees for services: Legal | $105,388 |
Fees for services: Accounting | $82,220 |
Fees for services: Lobbying | $103,146 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $103,006 |
Fees for services: Other | $946,831 |
Advertising and promotion | $239,528 |
Office expenses | $740,943 |
Information technology | $834,713 |
Royalties | $0 |
Occupancy | $3,205,441 |
Travel | $246,456 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $19,512 |
Interest | $307,924 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,377,294 |
Insurance | $322,610 |
All other expenses | $0 |
Total functional expenses | $41,458,343 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $111,565 |
Savings and temporary cash investments | $1,274,084 |
Pledges and grants receivable | $365,592 |
Accounts receivable, net | $1,179,536 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $33,318 |
Inventories for sale or use | $171,466 |
Prepaid expenses and deferred charges | $137,658 |
Net Land, buildings, and equipment | $25,694,601 |
Investments—publicly traded securities | $56,349,678 |
Investments—other securities | $7,611,961 |
Investments—program-related | $0 |
Intangible assets | $480,289 |
Other assets | $749,584 |
Total assets | $94,159,332 |
Accounts payable and accrued expenses | $3,083,379 |
Grants payable | $89,198 |
Deferred revenue | $363,872 |
Tax-exempt bond liabilities | $3,417,954 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $4,947,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $818,201 |
Total liabilities | $12,719,604 |
Net assets without donor restrictions | $38,108,976 |
Net assets with donor restrictions | $43,330,752 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $94,159,332 |
Over the last fiscal year, we have identified 31 grants that Minneapolis College Of Art & Design has recieved totaling $2,416,156.
Awarding Organization | Amount |
---|---|
Mcknight Foundation Minneapolis, MN PURPOSE: FOR A FELLOWSHIP PROGRAM FOR MID-CAREER VISUAL ARTISTS IN MINNESOTA | $279,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR A FELLOWSHIP PROGRAM FOR MID-CAREER VISUAL ARTISTS IN MINNESOTA | $279,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR A FELLOWSHIP PROGRAM FOR MID-CAREER VISUAL ARTISTS IN MINNESOTA | $278,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR A FELLOWSHIP PROGRAM FOR MID-CAREER VISUAL ARTISTS IN MINNESOTA | $278,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR A FELLOWSHIP PROGRAM FOR MID-CAREER VISUAL ARTISTS IN MINNESOTA | $276,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR A FELLOWSHIP PROGRAM FOR MID-CAREER VISUAL ARTISTS IN MINNESOTA | $276,000 |
Beg. Balance | $62,933,118 |
Earnings | -$5,438,280 |
Net Contributions | $497,253 |
Other Expense | $940,244 |
Grants | $1,987,003 |
Ending Balance | $55,064,844 |
Organization Name | Assets | Revenue |
---|---|---|
Carthage College Kenosha, WI | $408,772,143 | $125,157,339 |
Saint Johns University Collegeville, MN | $539,721,260 | $137,542,573 |
Trustees Of The Hamline University Of Minnesota St Paul, MN | $258,196,075 | $118,390,066 |
St Ambrose University Davenport, IA | $330,550,712 | $111,513,726 |
St Marys University Of Minnesota Winona, MN | $202,355,583 | $108,114,364 |
University Of Dubuque Dubuque, IA | $403,203,443 | $110,402,473 |
Concordia University St Paul St Paul, MN | $168,274,815 | $110,114,191 |
University Of Mary Bismarck, ND | $217,782,844 | $95,416,601 |
Loras College Dubuque, IA | $125,505,314 | $75,361,809 |
Edgewood College Inc Madison, WI | $160,826,840 | $64,618,208 |
Graceland University Lamoni, IA | $133,638,779 | $58,033,859 |
Oglala Lakota College Kyle, SD | $137,238,021 | $52,971,579 |